OKEx, a Malta-based digital assets exchange, announced on Monday its new listing of USDK, a US Dollar-pegged stablecoin co-launched by its strategic partner OKLink and Prime Trust. According to OKEx, the stablecoin will be listed on OKEx’s fiat-to-token (C2C) trading platform against six fiat currencies, which are CNY, VND, GBP, RUB, EUR and TRY, and spot trading platform with 11 trading pairs.
“USDK is a ERC-20 stablecoin co-developed by OKLink, a blockchain technology company, and Prime Trust, a US-licensed trust company. Every USDK is backed by 1 USD from the Prime Trust Special Account. With a guaranteed 1:1 conversion rate between USDK and USD, the monetary value is 100% reserved. Also, an audit firm will provide monthly reports for maximum transparency to the public.”
Speaking about the stablecoin, Andy Cheung, Head of Operations of OKEx, stated:
“We are excited about the listing of USDK. With the support of the new stablecoin, we are one step forward to foster a new blockchain-driven economy, encouraging financial inclusion through achieving disintermediation. We understand the pains in terms of third-party auditing. But with this new launch of a compliant stablecoin, we hope to provide our users a secure and reliable trading experience guaranteed by high transparency and regular audit. In the future, we are looking forward to incorporating USDK into more decentralized applications within OKEx’s ecosystem.”
OKEx went on to add thatit will launch a 2-day campaign together with OKLink, offering a 1% conversion premium exclusively to the platform’s users. During the promotion period, users can convert USDT to USDK at a special rate of 1 to 1.01.